Friday Jan 27, 2023

ATIF Holdings Signs Definitive Agreement with Solarever Ltd., a Leading Solar Energy Company in Mexico – Yahoo Finance


ATIF will Receive a 5.25% Equity Stake and Form IPO Listing Team in Support of Solarever’s Future Public Listing

IRVINE, Calif., May 4, 2022 /PRNewswire/ — ATIF Holdings Limited (Nasdaq: ATIF, the “Company,” “ATIF” or “We”), a holding company providing business and financial consulting services in Asia and North America, is pleased to announce that it has signed a definitive agreement to provide IPO advisory services to Solarever Ltd. (“Solarever”), the leading solar energy company in Mexico. Under the terms of the agreement, the Company will receive a 5.25% equity stake in Solarever and lead the IPO process by utilizing internal staff and engaging third parties in auditing, valuation, stock exchange consulting, investor relations, and other IPO services.

About Solarever:

  • Leading designer and manufacturer of solar products, including photovoltaics (PV) panels, energy storage systems, electric vehicles (EV), and other zero-emission solutions operating in solar and electric vehicle sectors

  • Solarever is the first and currently only domestic electric vehicle company in Mexico that has been granted electric vehicle safety certification and an EV dealer’s license. Solarever is qualified to import electric vehicles to Mexico.

  • Owns Latin America’s largest solar panel manufacturing plant in Tecoman, Colima, Mexico, and has a total of three plants in Mexico that are considered some of the largest in Latin America

  • Solarever is considered one of the largest producers of solar panels in Mexico and currently does business in over five countries, including the U.S.

  • Launched its first EV in 2022 and is licensed to sell EVs in Mexico from US$14,500

  • PV design facility in Chino, California, and warehouse facilities in Laredo, Texas, and San Diego, California

Why it matters:

  • Solarever is seeking an initial public offering to scale production across its PV, energy storage solutions, and EV operations

  • Solarever is a highly-respected leader in PV-based solar technologies and energy storage solutions and has grown revenues since its founding in 2012

  • Solarever is well-positioned to operate in fast-growing industry sectors related to energy decarbonization and decentralized energy

  • Solarever has begun production of the SEV e-Wan EV with sizable customer interest and purchase orders

Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, “We are very proud to deploy our IPO advisory services in support of Solarever as they pursue a public listing that will fuel their next level of growth. Solarever’s business model is similar to Tesla’s; they’ve grown to become one of the largest renewable energy solution providers in Mexico while launching several new EV models that have received significant customer pre-orders. We are excited to prepare Solarever to enter the capital market to fund its operations while …….


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